S AFRICA: Pioneer Foods makes offer to buy KWV
Pioneer Foods has made a move to acquire KWV
South African food group Pioneer Foods is looking to buy KWV, one of the country's largest wine and spirits makers.
Pioneer, which operates in sectors from bakery to poultry, said it had contacted KWV about a possible takeover of the company.
"Shareholders of Pioneer Foods and KWV Holdings are advised that Pioneer Foods has approached KWV Holdings with the view to possibly acquire KWV Holdings or concluding a similar transaction," Pioneer said on Friday (29 October).
"There can be no certainty that these discussions will lead to a transaction. If successfully concluded, the proposed transaction may have a material effect on the Pioneer Foods and KWV Holdings share prices."
It was not immediately clear whether any acquisition would include the 30% stake KWV has in South African wine giant Distell.
Back in November 2004, KWV sold its 25% share in Ceres Fruit Juices to Pioneer, giving the food company full ownership of South Africa's biggest long-life fruit juice producer.
KWV and distributor Arvid Nordquist have agreed a five-year extension of their pan-Nordic wine and spirits contract....
Distell has assigned five of its leading wine brands to Matthew Clark in the UK in order to extend its presence in the country's on-trade....
KWV and the Monarq group, which operates in the Caribbean and Latin America, have drawn up a strategic agreement to distribute KWV's portfolio of wines and brandies in the region....
- Focus - Edrington's FY Performance by Brand
- Where Beer is Brewed Can Leave a Bad Taste
- Analysis - Storm clouds lift over Diageo Towers
- Pernod relies on Indian whiskey to crack Africa
- Analysis - Cider's Campaign Gains
- Former Bacardi exec takes De Kuyper CEO role
- Diageo lining up Gleneagles sale - report
- Edrington posts FY profits drop
- Diageo CFO Mahlan to head up N America
- TWE, Pernod hail China-Aus FTA
- Global liqueurs insights - market forecasts, product innovation and consumer trends research
- The IWSR Company Profile 2014 – Remy Cointreau
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Edrington Group in Spirits (World)
- Global Tequila insights - market forecasts, product innovation and consumer trends research